Greater China

HSBC has tapped a senior investment banker from Credit Suisse to lead a division of its private bank, naming Johnny Liu as managing director and regional head of global solutions group (GSG), Asia Pacific.

A HK$4.851bn ($625m) leveraged buyout financing to back the acquisition of Wharf T&T by MBK Partners and TPG Capital has entered limited syndication.

Nicholas Chia has been made the head of equity capital markets and syndicate at Singapore’s OCBC Bank, the latest of Standard Chartered’s former ECM team to land a new role.

Chinese fashion house JNBY sealed a HK$800.0m ($103.1m) IPO this week after pricing off the bottom of guidance, according to a source close to the deal.

There has been a relentless downward pressure on the pricing of investment grade loans this year, as lenders choose to preserve the size and quality of their balance sheets even in the face of diminishing returns. Unfortunately, respite from margin compression is not coming any time soon, as volumes remain low and banks’ liquidity and hunger for assets show no signs of abating. Shruti Chaturvedi reports.

The Hong Kong Monetary Authority (HKMA) expanded the group of key offshore RMB (CNH) liquidity providers and revised arrangements for its CNH facility on October 27. The move comes at a time of greater downward pressure on the RMB, increasing the possibility of more interventions by China’s central bank.

Ever since it was announced by Chinese president Xi Jinping three years ago, the Belt and Road Initiative has been one of the most talked about policy strategies. While a level of scepticism remains, firms are starting to see opportunities emerge from the China-led initiative.

Fixed income investors have plenty supply to choose from out of Asia with seven issuers venturing out on Thursday. Corporates joining the fray included property companies Shokai Group and Golden Wheel as well as Guangxi LGFV and Hong Kong’s Li & Fung.

Seven deals launched Thursday as issuers came out in force to raise money ahead what is expected to be greater market uncertainty in November.

Guangdong Kanghua Healthcare Co has gone live with its Hong Kong IPO and begun taking orders for a HK$1.2bn ($154.7m) listing.

Industrial and Commercial Bank of China’s Tokyo branch sold a Rmb500m ($73.8m) dim sum bond on Tuesday — the first offshore renminbi Pro-Bond to be sold in Japan. The transaction was a successful attempt at drawing attention from Japanese investors, with the issuer managing to save costs compared to its dollar funding, according to bankers.

Shangri-La Asia Treasury is seeking retail participants for a $130m borrowing that will refinance existing debt.